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Sam writes a check drawn on his account at First Bank to State University to pay his
tuition. In this case:
a. Sam is the drawer.
b. the university is the drawee.
c. the bank is the payee.
d. Sam is the maker.
Bodily contact that is harmful or offensive can give rise to the tort of:
a. assault.
b. battery.
c. defamation.
d. appropriation.
A person with a life estate cannot do which of the following?
a. Strip-mine the land.
b. Build a bridge over the creek.
c. Cut a single tree.
d. Put a new roof on the house.
If the judge denies a __________, then the defendant has the opportunity to present
witnesses. However, if the judge grants the motion, then the judge takes the case away
from the jury and enters a judgment for the party making the motion.
a. motion for a new trial
b. motion for a directed verdict
c. motion for proof
d. motion for change of venue
Under the Foreign Sovereign Immunities Act, a foreign sovereign is:
a. immune from all suits in the United States.
b. not immune from suits in the United States involving commercial acts.
c. not immune from any type of suit in the United States.
d. None of the above.
A partner who has no right to participate in control of the business and who has limited
liability is called a:
a. limited partner.
b. nominal partner.
c. secret partner.
d. general partner.
The Fair Debt Collection Practices Act requires a debt collector to provide the
consumer with a written notice. What information must be contained in this notice?
a. The amount of the debt, with interest and penalties clearly delineated.
b. The name and phone number of the current creditor and former creditor.
c. A statement telling the consumer that he can request verification of the alleged debt.
d. A copy of the original credit contract with the original creditor.
Tom makes pottery in his spare time. Jackie asks if he'd sell her a covered bowl. Later
that day, he telephones her and says she can have it for $50. She agrees, so he tells her
he'll wrap it up for her and it will be ready in half an hour. Six days later, Jackie had not
yet come for the bowl when a dog knocks the box off the shelf and breaks the bowl.
Who is liable?
a. Tom, because Jackie had not yet received the bowl.
b. Tom, because the bowl was in his possession when the dog broke it.
c. Jackie, because she had identified the bowl.
d. Jackie, because Tom had tendered the bowl to her nearly a week earlier.
A criminal trial is similar to a civil trial, but there are some significant differences.
These differences are:
a. the defendant is always the government in a criminal trial.
b. burden of proof on the prosecution is to prove guilt beyond a reasonable doubt in a
criminal trial.
c. the defendant is required to testify.
d. All of the above.
The role of shareholders in managing the corporation is generally restricted to:
a. election of directors.
b. approval of certain extraordinary measures.
c. the approval of corporate transactions that are void or voidable unless ratified.
d. All of the above.
Arthur is a shareholder of Rowson, Inc. He has evidence to suggest that its
president/CEO has allowed the corporation to engage in acts that are ultra vires. Based
upon this evidence, Arthur contacts an attorney and sues the corporation on behalf of
the corporation. The lawsuit Arthur has filed is known as:
a. a direct suit.
b. a derivative suit.
c. a class action suit.
d. an unauthorized suit.
The warranty of title for the sale of goods found in the Code:
a. may be excluded with the phrase "as is."
b. will vest title under Article 2A.
c. may not be excluded or modified by the seller.
d. will apply regardless of whether it is provided for in the contract unless the parties
have specifically excluded it.
IBN has two manufacturing facilities-one in New York and one in Oklahoma. Marjorie
has worked in the Oklahoma plant for 15 years assembling resistors. Her sister, Ellen,
has worked at the same plant for 15 years also. Their brother, Hank, has worked there
for 10 years in the same job as his sisters. Ellen transfers to the New York facility. Their
salaries are now as follows: Marjorie: $12 per hour; Ellen: $19.50 per hour; Hank: $14
per hour. Is there a violation of the Equal Pay Act?
a. Yes, because Ellen's pay is higher than Marjorie's.
b. Yes, because Ellen and Hank receive more per hour than Marjorie.
c. Yes, because Hank's pay is higher than Marjorie's.
d. No, since they are different people with different personalities.
__________, promulgated by the SEC, provides a nonexclusive safe harbor for securing
the intrastate exemption.
a. Rule 506
b. Rule 505
c. Rule 147
d. Rule 504
A buyer's right to purchase, in good faith and without unreasonable delay, substituted
goods from Seller B when Seller A breaches a sales contract is:
a. cover.
b. specific performance.
c. replevin.
d. reclamation.
After a breach by the seller, buyer may replevy the goods after identification if:
a. he acts within thirty days.
b. he cannot buy replacement goods.
c. the seller is insolvent.
d. he cannot buy replacement goods or the seller is insolvent.
An ethical decision-making approach that relies on a central authority or set of rules,
such as the Koran or the Bible, is:
a. ethical fundamentalism.
b. ethical relativism.
c. rule utilitarianism.
d. act utilitarianism.
The way parties usually show mutual assent is by:
a. an offer by words or conduct and an acceptance by words or conduct.
b. a proposal in words and an acceptance in words.
c. an act exchanged for an act.
d. an offer and a counteroffer.
A signed promissory note stating 'I promise to pay to Bonnie Ramcell $600 on
December 15, 2012' is not covered by Article 3 of the UCC.
When the per se approach is inappropriate in a Section 1 Sherman Act case but the
challenged conduct has obvious anticompetitive effects, courts may use an intermediate
test which is a 'quick look' rule of reason analysis.
Securities sold under Regulation A must be registered if they are resold.
American jurists and Supreme Court Justices Oliver Wendell Holmes and Benjamin
Cardozo defined law as 'a rule of civil conduct prescribed by the supreme power in a
state, commanding what is right, and prohibiting what is wrong.'
A basic tenet of the law, which is expressly stated in the Code, is that a purchaser of
goods obtains such title as his transferor had or had power to transfer.
